What is Veo?
Headquartered in Chicago, Veo distinguishes itself through a vertically integrated model that prioritizes vehicle longevity and rider safety. Unlike competitors relying on off-the-shelf hardware, the company designs and manufactures its own fleet, including the Veo Cosmo seated vehicle and the Astro Go e-scooter. This commitment to engineering excellence ensures that their assets withstand the rigors of high-frequency shared use, while their recent expansion into direct-to-consumer sales via the Veo Flex line signals a strategic pivot toward diversified revenue streams. The company currently operates across dozens of cities and university campuses, establishing a robust footprint in the evolving landscape of last-mile transportation.
How much funding has Veo raised?
Veo has raised a total of $17M across 3 funding rounds:
Debt
$350K
Debt
$666K
Series A
$16M
Debt (2020): $350K with participation from PPP
Debt (2021): $666K led by PPP
Series A (2021): $16M supported by UP Partners, Interplay Ventures, Autotech Ventures, and FJ Labs
Key Investors in Veo
UP Partners
A venture capital firm focused on investing in the future of transportation and mobility technologies.
Interplay Ventures
A multi-stage investment firm that provides capital and operational support to high-growth technology companies.
Autotech Ventures
A specialized venture capital firm dedicated to the ground transportation sector and mobility innovation.
What's next for Veo?
With this major strategic investment, Veo is well-positioned to accelerate its operational scaling and technological development. The company's roadmap likely involves deepening its penetration into existing municipal markets while simultaneously refining its hardware lifecycle sustainability. As urban centers continue to prioritize carbon-neutral transit, Veo's ability to provide safe, reliable, and durable mobility options will be central to its long-term growth trajectory. Future efforts will likely focus on optimizing fleet management software and expanding the reach of its personal-use vehicle offerings to capture a broader segment of the consumer market.
See full Veo company page
